Proterra IPO

www.proterra.com | Automotive | Founded: 2004 | Funding to Date: $608,195,380

Proterra was founded in 2004 by Dale Hill. In July 2019, Reuters reported that the company had “hired investment banks to prepare for an initial public offering (IPO), according to people familiar with the matter” and adding that “the timing of the IPO depended on market conditions.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.

Proterra designs and manufactures zero-emission transit busses. The company has raised approximately $520 million in Venture Capital funding from investors including BMW iVentures, G2VP, Hercules Capital, Tao Capital Partners, GM Ventures, Kleiner Perkins, and Franklin Templeton Investments. Per company press releases, Proterra last raised $155 million in September 2018 at a post-money valuation of $855 million.

Date of Last Funding Round August 2019
Value at Last Round $1.08 B
Amount of Last Raise $75 MM
Total Funding to Date $596.32 MM

ENTERPRISE VALUE (based on primary fundings)

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As part of our waterfall and valuation models, SharesPost has included the most recent available Certificate of Incorporation for Proterra, however, we have not found independent public information confirming that the Series 8 round has been completed.

Mutual Funds holding Proterra

  • Franklin Growth Opportunities Fund - October 2017

  • Hercules Capital - September 2017

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NEWS

Wall Street Journal

The special-purpose acquisition company will use $278 million raised through an initial public offering in September as well as $415 million being raised in a private investment in public securities transaction to help finance the deal, regulatory filings show.

Bloomberg

Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp. The deal represents an enterprise value of $1.6 billion for Proterra and includes $415 million from investors Daimler Trucks, Franklin Templeton, Fidelity Management & Research Co. and funds and accounts from BlackRock, among others, according to a statement.

Disclaimer

None of the information displayed on this page (i) represents an offer to buy or sell or a solicitation of an offer to buy or sell any security, (ii) constitutes an offer to provide investment advice or service, nor (iii) should be construed to mean that a company has officially endorsed a plan to participate in, or forego, an IPO merely by its inclusion on this page.

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